K2.2B drop in internal revenue

THE latest economic forecast indicates a K2.2 billion decrease in internal revenue, according to Treasurer Ian Ling-Stuckey.
K2.2B drop in internal revenue K2.2B drop in internal revenue K2.2B drop in internal revenue K2.2B drop in internal revenue K2.2B drop in internal revenue

Kandep MP Alfred Manase

Staff Reporter

Ling-Stuckey said in parliament this week that this was the result of the impact of the Covid-19 pandemic, The National newspaper reported.
 
He was responding to questions from Kandep MP Alfred Manase, who asked about the impact of the Covid-19 on the country's revenue.
 
"If you look back on our revenue numbers for this year's budget, our revenue figures were forecast at K14,095 billion," Ling-Stuckey said.
 
"The latest econometric forecast that we've received from the IMF (International Monetary Fund) working with all our other multilateral and bilateral friends, there is a revised number for the decrease in revenue.
 
"We had announced revenue would drop by K2 billion but the revised figure is K2222 million, or K2.2 billion, downward revision on our revenue."
 
Manase also asked how the government intended to fill the revenue gap and if there would be a supplementary budget tabled.
 
Ling-Stuckey indicated that the revenue gap would be filled through interventions which would include more borrowing.

 

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